Zain Saudi curbs net loss by 5.6% in 2013

Zain Saudi Arabia, a subsidiary of Kuwait’s Zain Group, has published its consolidated financial results for the twelve months ended 31 December 2013, reporting a net loss of SAR1.651 billion (USD440.23 million). Despite incurring a loss, the figure represents a 5.6% improvement on the SAR1.749 billion generated in the year-ago period. The company attributed the development to a ‘significant revenue increase in the internet segment, alongside a revenue increase in the post-paid sector’. In operational terms, Zain Saudi’s consolidated customer base reached 8.7 million, a 10% increase year-on-year, mainly attributed to growth in internet subscribers.